- YI: +1.5
- Trying to bottom out now: IRF
- Standard oversold: HMC and RNR
- Moderately oversold: ENR
- Trying to hold some rising trend line support: COP and CREE
- Trying to hold falling trend line support: MRVL
- Attempting to hold the 28 DMA here: NSM
- To a hold for now: MU
- Trying to break above some falling trend line resistance: ACAS, APPB, BAC, GOOG, JPM, MDT, SU, THQI, TIE, TKR, WMB, and X
- Attempting to break above the 28 DMA here: AU, ELN, ERIC, EWQ, EWU, FRO, SBUX, WB, the XAU index, and YHOO
- Now up against some rising trend line resistance: GT
- Moderately overbought now: CMC, FCX, and JOSB
- Standard overbought: PD and WGII
- Toppy here: BGF
- A break out in either direction is on the way for: WOR
- To no position for now: GT
- Anything posted here could be off base.
For those of you who have inquired, the "Yi" is my own proprietary overbought/oversold indicator. A +10 reading generally indicates we are overbought in the overall market, and -4 or a -5 reading is telling us the market is a bit oversold. The "zero line" in between the plus and minus readings will sometimes act as an area of support or resistance, so I tend to keep an eye on that level also. A reading of +20 is extremely overbought, and a -10 indicates the market is extremely oversold.
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